SITE Centers Corp. (NYSE:SITC) Given Consensus Recommendation of “Hold” by Analysts

SITE Centers Corp. (NYSE:SITC) has earned an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $35.61.

SITC has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Citigroup lowered their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Piper Sandler cut their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, StockNews.com lowered SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th.

SITE Centers Stock Down 0.0 %

Shares of SITE Centers stock opened at $12.80 on Friday. SITE Centers has a 1-year low of $12.58 and a 1-year high of $64.44. The company has a market capitalization of $670.84 million, a P/E ratio of 0.94 and a beta of 1.63. The business’s fifty day moving average price is $14.35 and its two-hundred day moving average price is $21.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). The company had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. As a group, research analysts forecast that SITE Centers will post 3.24 EPS for the current year.

Insiders Place Their Bets

In related news, EVP John M. Cattonar sold 8,794 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $133,844.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.10% of the company’s stock.

Institutional Trading of SITE Centers

Hedge funds have recently modified their holdings of the business. Graham Capital Wealth Management LLC purchased a new stake in SITE Centers in the 4th quarter worth about $2,226,000. Advisors Preferred LLC purchased a new stake in shares of SITE Centers in the fourth quarter worth approximately $2,517,000. Meeder Asset Management Inc. acquired a new stake in shares of SITE Centers during the third quarter worth approximately $2,596,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SITE Centers by 19.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock valued at $19,612,000 after purchasing an additional 53,412 shares in the last quarter. Finally, Assetmark Inc. increased its stake in SITE Centers by 287.1% in the 4th quarter. Assetmark Inc. now owns 89,705 shares of the company’s stock valued at $1,372,000 after buying an additional 66,529 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

SITE Centers Company Profile

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.